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New Applications to Drive Growth in the Chitin and Chitosan Market, According to New Report by Global Industry Analysts, Inc.

http://www.prweb.com/releases/chitin_chitosan/glucosamine/prweb9940193.htm

GIA announces the release of a comprehensive global report on Chitin and Chitosan markets. World Chitin and Chitosan market is projected to exceed 118 thousand metric tons by 2018. Penetration into new fields represents the key growth driver. Opportunities from emerging markets in the Asia-Pacific region are expected to fuel further growth. Apart from the more traditional applications such as cosmetics and water treatment, applications such as agrochemicals are poised to drive future consumption of Chitosan.

Chitin and Chitosan: A Global Strategic Business Report San Jose, CA (PRWEB) September 25, 2012

Follow us on LinkedIn – Chitin and Chitosan are natural biopolymers, wherein Chitin is readily found in nature and Chitosan is a deacetylated chitin derivative. Lobsters, krills, crab shells, shrimp shells and mushrooms have chitin in abundance. Traditional markets for the compounds include agriculture and food, cosmetics, healthcare, pulp and paper, textiles and water treatment, among others. In water treatment, chitin is extensively used as a flocculant in place of chemical substances. The chemical also finds use in hair and skin care products including shampoos, conditioners and moisturizers. In the textile industry, chitosan is used for fabric pre-treatment and finishing. Furthermore, glucosamine, a chitin derivative is used in neutraceutical formulations for the treatment of joint problems.

Despite the fact that the functionality of chitin derivatives spans across various applications ranging from dietary supplements to health care, these biopolymers remain an underutilized resource. Given the lack of awareness with respect to prospective applications of chitin and chitosan and absence of aggressive commercialization initiatives by industry participants, opportunities for the biopolymers remain significant in the long run. In the coming years, new applications are likely to emerge diversifying the existing applications. The usability of chitin and its derivatives is expected to extend into various applications in healthcare (tumor treatment, medication for acute burns, anti-inflammatory medications, analgesics, hemostats), biotechnology (cell recovery, enzyme & cell immobilization), food & beverages (food flavoring agents, food preservatives, packaging material, flocculation agent), agrochemicals (preservation of seeds, composting accelerator) as well as affinity chromatography, paper making and many more.

As per the new market research report on Chitin and Chitosan, Japan is the largest consumer of Chitin and Chitosan. Water treatment is the major end use application in the country, followed by cosmetics. Chitin and Chitosan are also used in the biomedical arena. Growing applications include use of the compounds in biotechnology and textile finishing. In terms of growth rate, Asia-Pacific ranks as the fastest growth market with a CAGR of 18.6% over the analysis period.

Segment-wise, Glucosamine represents the largest segment for chitin derivatives. Glucosamine is the most widely used ingredient in joint health medications. A majority of neutraceuticals formulated for joint health problems contain glucosamine/chondroitin mixture. However, with several food and beverage companies including glucosamine in their products, demand for glucosamine usage is no longer confined to the joint health segment. Chitosan is also a significant chitin derivative with numerous end-use applications. Out of the varied end-use applications of chitosan, water treatment accounts for the largest share of consumption. The end-use application is likely to retain its prominence over the analysis period, however, consumption of the biopolymer in medical/healthcare, agrochemicals, food & beverages and textile finishing is expected to pick up pace. The fastest CAGR is anticipated in agrochemicals at 17.6% from 2010 through 2018.

Major players profiled in the report include Advanced Biopolymers AS, CarboMer Inc., Heppe Medical Chitosan GmbH, Kunpoong Bio Co. Ltd., Meron Biopolymers, Primex Ehf, and Zhejiang Candorly Pharmaceutical Co., Ltd.

The research report titled “Chitin and Chitosan: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the chitin and chitosan markets, market trends, key growth drivers, product overview, end-use applications overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for Chitin and Chitosan market for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Key chitin derivatives analyzed include Glucosamine, Chitosan, and Other. End-use applications analyzed for the chitosan market include Water Treatment; Cosmetics and Toiletries; Food and Beverages; Healthcare/Medical; Agrochemicals; Biotechnology; Pulp and Paper; Textile Finishes; Photography Products; and Miscellaneous applications.